Thales, Gemalto get regulatory clearance from South Africa

Thales and Gemalto on Wednesday announced that they had received regulatory clearance from the Competition Commission in South Africa.

Together with the anti-trust clearances obtained in China, Israel and Turkey, and clearances relating to foreign investments in Australia, Canada and the USA (CFIUS), Thales and Gemalto have now obtained 7 of the required 14 Regulatory Clearances.

Thales and Gemalto continue to work constructively with the competent antitrust authorities to obtain the remaining regulatory clearances in Australia, for the European Union, in Mexico, in New Zealand, in Russia and in the United States.

In addition, Thales and Gemalto are seeking Regulatory Clearance relating to foreign investments from the competent authority in Russia.

The transaction should close shortly after all of the Regulatory Clearances have been secured, which is expected to occur in the first quarter of 2019, as announced in the joint press release dated 11 October 2018.

Further announcements will be made if and when a regulatory clearance has been obtained or the Offer Condition with respect to Regulatory Clearances is satisfied, waived or has become incapable of being satisfied, or as otherwise required by applicable law.

As announced on 10 August 2018, the Acceptance Period has been further extended by Thales in accordance with an exemption granted by the Dutch financial markets authority (AFM) and will end two weeks after the fulfilment of the Offer Condition with respect to Regulatory Clearances or the waiver thereof (but no later than the Long Stop Date).

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

First Bank lifts education sector with N10bn

First Bank of Nigeria Limited says it is committed to supporting different sectors of the ...